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AccountAbility Welcomes Two Senior Leaders to its Global Management Team
AccountAbility is pleased to announce that two internationally-renowned experts in accounting, financial reporting, governance, and standards development have joined the senior management team. Kurt Ramin assumes the role of director, and global head of standards, while Liv Watson takes over as director and global head of research and development. Sunny Misser, CEO of AccountAbility commented:…
Steven Maijoor is Selected as ESMA’s First Chair
The European Securities and Markets Authority (ESMA) announces today the selection of Steven Maijoor, as the proposed first chair of ESMA. This follows a vote by ESMA’s Board of Supervisors. Before taking up his duties, the selected chairperson will be heard by the European Parliament who has up to one month to object to his…
Odds On?
The more people I speak to, the more cynical I get about the future of the US Office of Financial Research. It seems that some are even close to running a book on how long it will be before the government backs away from the idea, given the changing political dynamics on Capitol Hill. In…
Industry Has Until 22 February to Respond to CFTC’s Legal Entity Identification Proposals for the Swaps Market
Following on from the series of roundtables last year conducted by the US Commodity Futures Trading Commission (CFTC) to examine the data standardisation challenges underlying the provisions contained within the Dodd-Frank Wall Street Reform and Consumer Protection Act, the regulator has published a set of proposals in the Federal Register regarding the identification of counterparties…
Starting 2011 with a Bang?
As well as the customary fireworks displays around the world, the start of 2011 has seen the transformation of what was once the Committee of European Securities Regulators (CESR) into the new (and supposedly improved) European Securities and Markets Authority (ESMA, see the new website here). But, apart from the obvious change in moniker, what…
CESR Champions Underlying Reference Data Standardisation in its Latest OTC Platform Trading Advice for MiFID
In its latest technical advice to the European Commission as part of the ongoing MiFID review, the Committee of European Securities Regulators (CESR) has reprised its data standardisation theme as the “preliminary step on the way to organised platform trading” of OTC derivatives. Progress within the front office is therefore predicated on getting the data foundations…
EDM Council to Launch New Operating Model, Cites ISO, Swift and GS1 as the Top Three Contenders for Entity Identification
The EDM Council has decided to restructure its operations under four main areas of business in order to better engage with the industry it is charged with representing: standards; best practices; engagement (with a focus on regulators and academia); and internal operations. A large proportion of the standards work will likely focus on the area…
Trading Places
The poaching of industry execs by the regulators has been a frequent occurrence over the course of this year and, if recent comments made by the Commodity Futures Trading Commission’s (CFTC) Scott O’Malia are anything to go by, a data management exec is soon to be poached to become the chief data officer (CDO) of…
European Council Proposals for Derivatives Repositories Include Potential Fines for Ref Data Failures
The data standardisation issues underlying the decision to push all standardised OTC derivatives to be centrally cleared and to establish new trade repositories have been well exposed during regulatory discussions over the course of this year. In light of this, the European Council’s recent regulatory proposals on the subject include direct reference to potential fines…
CFTC’s Gensler Elaborates on Why Identification Standards are so Important to the Regulatory Function
The five month investigation into the 6 May US flash crash has been widely publicised and everyone and their dog has been fixated on the impact of high frequency trading on the markets at large. However, the investigation has also raised regulatory awareness of the underlying data inadequacies that lie at the heart of the…